(Alliance News) - Borgosesia Spa announced on Friday that it had acquired through its subsidiaries Borgosesia Real Estate Srl and BGS REC Srl respectively the entire capital and the financial and commercial receivables claimed by the transferors of an investment vehicle - currently engaged in a turnaround process - to which is referred the ownership, in addition to a building plot, of three buildings - with a commercial surface area of approximately 13,000 square meters and almost entirely leased at an annual rent of approximately EUR1.9 million - located within an office center in Bologna.

The transaction, which includes a price adjustment clause in favor of one of the selling parties, involved a total investment of EUR14.5 million, of which EUR13.2 million was discharged through the assumption of financial liabilities.

Then, thanks to the issuance within the Basket Loans Program securitization of a first series of securities called "Archimede" - which has so far registered adhesions of about EUR18 million and which envisages a minority investment by the group mainly represented by junior securities, i.e., less secured but which, at the same time, benefit from any proceeds that may remain once the senior ones have been repaid - the operation has made itself, among other things, the purchaser, for a consideration of EUR3.3 million, of a credit of a nominal value of about EUR6 million secured by a mortgage on a large plot of land located in the vicinity of Padua, reaching at the same time with the debtor an agreement for the valorization of the same to such an extent as to allow the full repayment of the exposure plus interest.

Borgosesia's stock on Friday closed unchanged at EUR0.69 per share.

By Chiara Bruschi, Alliance News reporter

Comments and questions to redazione@alliancenews.com

Copyright 2023 Alliance News IS Italian Service Ltd. All rights reserved.